What are the most exciting days of the month? For me, it's Fried Chicken Fridays, but for most people, it’s payday! Those last few days before payday can be a real struggle, especially if you’re a contractor or gig worker without a set schedule. When your bank account is running on fumes, not knowing when you’ll get paid is the worst! Workers today expect to be paid accurately and on time, no excuses.
In today’s fast-paced business world, keeping your workforce happy is all about speed and efficiency—especially when it comes to their paychecks. A delay can be a disaster: landlords don’t care if your employer is late, and credit card companies might cut you some slack (but don’t count on it). And if you’ve got dependents relying on you, the stakes are even higher.
For businesses operating across borders, payroll becomes a maze of complexities with international transactions. That’s where Routefusion steps in, making same-day payroll a breeze.
When a business goes global, the workforce becomes more diverse—different countries, time zones, and currencies. This globalization creates a need for faster, more reliable payroll solutions. Traditional systems are outdated—some people even still get paid with paper checks, can you believe that?!
These old-school methods, along with clunky HR/payroll software, can lead to delays—and we all know what delays create: unhappy campers. If someone’s pay is delayed too often, they might just quit—or worse, quit and sue! States like California have some pretty strict employment laws (and rightfully so!), so businesses need to be on their toes. I used to work in flexible staffing, and trust me, payroll delays are a nightmare for everyone involved.
Gone are the days of paper checks and waiting weeks for payment. Workers now expect to be paid promptly, and companies that can meet these expectations have a serious edge in attracting and retaining top talent.
Some countries are lightyears ahead when it comes to payments. Take India, for example—they have a unique tracking number for every digital payment. Sweden’s so advanced, they’re on track to become the first cashless country! If you’re a payroll provider dealing with multiple currencies, you’ve got to keep up with these quirks. In places like India, China, and Brazil, real-time payments are the norm, so you can’t afford to lag behind just because it’s not the standard in your country (looking at you, United States).
How Does Routefusion’s Same Day Payroll Work?
Routefusion tackles the challenges of international payroll head-on, letting businesses send payments across borders in real time. The result? As long as the transfer is created before the cutoff time, (and dependent on then beneficiary bank account location) your employee will get paid the same day! Please note, this feature is only available to non-sanctioned countries.
Real-Time Payment Processing. The magic of this product is its ability to process payments in real time. Unlike the old-school banking systems that shuffle your money through a maze of middlemen and take forever to clear (anything over one business day is f o r e v e r), Routefusion’s real-time payments cut out the wait. When a business hits the pay button, the money is on its way instantly—no snooze button for your paycheck here!
Global Reach with Local Expertise. One of the coolest perks of Routefusion is the global reach. Businesses can now pay employees in over 100 countries, using payment methods that make sense locally. Routefusion’s platform ensures the money gets where it needs to go—fast and secure. It's like being a local everywhere without having to actually be everywhere.
Cost-Effective Solutions. International payroll used to mean sky-high costs, especially with conversions and cross-border transactions. But Routefusion’s real-time payments have flipped the script. With competitive exchange rates and lower transaction fees, we’re making sure your money works smarter, not harder. So, businesses save a few bucks, and employees get every penny they’re owed—because who wants to lose money in translation?
In addition to the immediate benefits of faster payments, Routefusion’s real-time payments product also positions businesses for future growth. As companies expand into new markets and hire talent across borders, the ability to process payroll in real time becomes an essential competitive advantage. We'd love to help your business with payroll, and tell you more about Real Time Payments.